Textile Park

PM MITRA Parks To Attract Large Investments & Huge Employment

Textile Insights March 4, 2024

Expeditious implementation of seven PM Mega Integrated Textile Regions and Apparel (PM MITRA) parks will help in attracting large investments besides generating huge employment. During inauguration of Bharat Tex 2024, Prime Minister Narendra Modi threw light on plans to create seven PM MITRA

Policies

Finance Ministry May Tweak 45 Days Payment Rule for MSMEs

Textile Insights March 2, 2024

The government is actively reviewing the concerns of stakeholders and assessing whether there are valid grounds for amendments to this 45-days payment rule for MSMEs. The Union Finance Ministry is contemplating a revision to a recent tax regulation requiring businesses to settle payments to small and medium-sized enterprises (MSMEs) within 45 days. This follows a […]

Industry

Tie-Ups With Foreign Institutes To Train Indian Artisans

Textile Insights February 27, 2024

The Indian government plans to help impart world-class training to Indian artisans, weavers and young professionals through tie-ups and exchange programmes between Indian textile research institutes and technical institutes in the UK, Australia and Finland. “With this, it hopes to add heft to Indian textile manufacturing to meet global demand and position India as a […]

Event

Explore Global Markets As Against Just Local Markets: PM Modi

Textile Insights February 27, 2024

Prime Minister Narendra Modi after inaugurating Bharat Tex 2024 said the Indian textile and apparel industry needs to think big by increasing exports rather than concentrating on just the domestic market. “It is important to come out of the mindset that India itself is a big market and mull on increasing exports to worldwide markets,” […]

Event

PM Narendra Modi Inaugurates Textile Exhibition Bharat Tex 2024

Textile Insights February 26, 2024

Prime Minister Narendra Modi, flanked by Union Ministers Piyush Goyal and Darshana Jardosh inaugurated Bharat Tex 2024, touted as India’s biggest textile fair at Bharat Mandapam in New Delhi. Bharat Tex will not only display India’s rich textile heritage but also positions India as a modern global textile powerhouse. Currently, the industry is facing both […]

Economy

Indian Textile Sector To Attract Investments Of Rs 95,000cr

Textile Insights February 24, 2024

“India’s textile industry is anticipated to attract Rs 95,000 crore investment in the following four to six years, and generate over 2.25 million additional jobs,” Union Textiles Secretary Rachna Shah said. “This will primarily be due to the production-linked incentive (PLI) scheme and the proposed seven PM Mega Integrated Textile Regions and Apparel (PM MITRA) […]

Textile Park

Narendra Modi To Lay Foundation Stone Of Navsari PM-MITRA Park

Textile Insights February 19, 2024

Prime Minister Narendra Modi will lay the foundation stone of the Prime Minister Mega Integrated Textile Regions and Apparel (PM MITRA) Park on February 22 in Navsari district of Gujarat. The PM MITRA Park in Navsari which was conceptualised in July 2023 spans 1,142 acres and is expected to attract substantial investments and generate employments […]

Industry

SIMA Raises Awareness In Textile Sector On ‘Competition Law’

Textile Insights February 15, 2024

SIMA conducted an awareness programme titled ‘Competition in Textile Market’ to enable textile manufacturers to understand the scope of the Competition Law to sustain competitiveness and achieve sustained growth. V. Sriraj, Joint Director (Law), Southern Regional Office, CCI addressed the participants on the role played by CCI at the awareness seminar, which was attended

Export

Sri Lanka To Negotiate FTA With India By End Of 2024

Textile Insights February 12, 2024

Sri Lanka will negotiate a free trade agreement (FTA) with India by the end of 2024. Sri Lanka and India resumed talks on the Economic and Technology Cooperation Agreement in Colombo in October 2023. “Similarly, Sri Lanka will sign FTAs would be negotiated with Indonesia, Malaysia, Vietnam, and China too by the year’s end,” Sri […]

Industry

CITI Welcomes 27.6% Hike In Textile Sector Budget Allocation

Textile Insights February 2, 2024

Confederation of Indian Textile Industry (CITI) welcomed the budget allocation for textiles which has increased by 27.6 percent, largely due to the allocation of Rs 600 crore for Cotton Corporation of India (CCI) towards cotton MSP operations. CITI Chairman Rakesh Mehra expressed hope that the cotton procurement will be as per revamped policies recommended by […]